HomeBusiness

CSC-Boustead Beef Has Closed Bulawayo Abattoir

1 year agoSun, 26 Feb 2023 07:40:03 GMT
Share on FacebookShare on TwitterShare on LinkedIn
CSC-Boustead Beef Has Closed Bulawayo Abattoir

The CSC-Boustead Beef Bulawayo abattoir closed last week due to failure to pay its electricity bill of about ZW$24 million which translates to US$24 000 or US$27 220 at the official rate.

Boustead Beef claimed that it had invested US$24 million into the plant Cold Storage Company when it reopened in August last year.

Power was cut off on Monday after the company failed to pay its electricity bill.

Boustead Beef entered into an agreement with the government to revive the Cold Storage Company in 2019 but failed to provide proof that it had US$130 million for capital expenditure and working capital for the first five years.

The company also failed to invest US$45 million in the first year as per the agreement.

Usanetseke neNetOne airtime.

Baya *405# utenge neEcoCash

The government placed the CSC under corporate rescue in December 2020 after realising that Boustead Beef had failed to fulfil its part of the agreement.

Boustead Beef, however, remained mainly at the Bulawayo abattoir and claimed that it had refurbished the plant and invited Vice President Constantino Chiwenga to officially reopen the factory in August last year.

The company claimed at the re-opening that it had also secured US$36 million for a feedlot and grazing purchase scheme for communal farmers.

CSC workers said they could not understand why Chiwenga and the State media swallowed the lies from Boustead Beef as there was no way it could have invested US$24 million in the plant as the cold rooms were not working. 

More Pindula News

Tags

35 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback